All Forum Posts by: Lucas Taylor

Own a lot free and clear, looking to finance a new construction build to be used as an investment property.

We’ve spoken with lenders regarding one-time construction loans, but trying to do the most cost effective route. We will likely be using the value of the land as the down payment. 

The goal is to potentially get cash out at closing based on the new appraised value, as there will likely be plenty of equity, if at all possible while still using financing for the construction. 

Does anyone have experience with anything similar or recommendations on routes to take?

Tenant informed me of a maintenance request 1 week and 1 day go and the issue still hasn't been resolved. It has been a challenge getting someone out to the property; hasn't been from a lack of trying. Now someone says they can go out and take care of it Saturday putting the total length of time at 1 week and 4 days. This seems unreasonable in my opinion. For context the dishwasher is not putting out water even though it is powering on and going through the cycles (just without water according to the tenant). Water is still on at the house so they must be using the sink to wash dishes. 

@Wenda Wang this is for a refi

We were able to connect with a couple different lenders offering 80% LTV on a SFR investment property with less than 6 months seasoning. However, this was pre-covid, and it seems the terms have tightened since then only allowing 75% LTV with a minimum of 6 months seasoning. Has anyone had a different experience in North Carolina?

@Patricia Taveras thank you! Will give them a call.

Good morning,

Does anyone have any recommendations for lenders in North Carolina that offer 75% LTV or better of the appraised value for an investment property?

Thanks!

I am a new investor interested in BRRRR strategy in Charlotte, NC. Does anyone know of any real estate agents that have experience with investment properties? I am hoping to be able to start putting in offers soon! I would welcome any suggestions for a contractor and lender as well!

Thank you!